Bankruptcy

SEC Charges Lordstown Motors with Misleading Investors about Company's Flagship Electric Vehicle

Retrieved on: 
Thursday, February 29, 2024

Company's former auditor charged with violating auditor independence standards

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - February 29, 2024) - The Securities and Exchange Commission today charged Lordstown Motors Corp. with misleading investors about the sales prospects of Lordstown’s flagship electric pickup truck, the Endurance.
  • Lordstown, which filed for bankruptcy in 2023, went public by merging with a special purpose acquisition company (SPAC) in 2020.
  • The SEC also instituted a related, settled administrative proceeding against Lordstown’s former auditor, Clark Schaefer Hackett and Co. (CSH).
  • CSH provided certain non-audit services, including bookkeeping and financial statement services, to Lordstown during CSH’s audit of the company’s financial statements when it was a private entity.

SEC Charges Former Alfi CEO Paul Pereira with Fraud for Making False Statements on Social Media

Retrieved on: 
Tuesday, February 27, 2024

In fact, as alleged, the restaurant chain founder never discussed such a contract with Pereira or any other Alfi personnel.

Key Points: 
  • In fact, as alleged, the restaurant chain founder never discussed such a contract with Pereira or any other Alfi personnel.
  • "As alleged in our complaint, Pereira tried to boost the company’s stock price through his false and misleading statements,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.
  • The SEC seeks a permanent injunction, an officer-and-director bar, and a civil penalty against Pereira.
  • The SEC's litigation is being led by Russell O’Brien and Mr. Charap and supervised by Teresa Verges.

Graphene Manufacturing Group Ltd. Commences Trading on OTCQX Under the Symbol GMGMF

Retrieved on: 
Monday, February 26, 2024

Vancouver, BC, Feb 26, 2024 - (ACN Newswire) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) ("GMG" or the "Company") is pleased to announce it begins trading today on the OTCQX(R) market under the symbol "GMGMF".

Key Points: 
  • Vancouver, BC, Feb 26, 2024 - (ACN Newswire) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) ("GMG" or the "Company") is pleased to announce it begins trading today on the OTCQX(R) market under the symbol "GMGMF".
  • To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8082/199208_b72d0c1064e979c2_001fu...
    The OTCQX Best Market is for established, investor-focused U.S. and international companies.
  • GMG has now qualified to trade on the OTCQX Best Market, having been upgraded from the Pink(R) market.
  • The two lower-tier markets for OTC trading in the U.S. are the OTCQB Venture Market and the OTC Pink market.

Flex is not dead: Why WeWork's collapse won't spell the end of the industry

Retrieved on: 
Thursday, February 22, 2024

This expansion was driven more by the desire for quick scaling rather than actual market demand.

Key Points: 
  • This expansion was driven more by the desire for quick scaling rather than actual market demand.
  • Its leadership faced criticism for opaque decision-making and misallocation of funds, leading to a loss of investor trust and market confidence.
  • The company's failed IPO in 2019 marked a turning point, shedding light on its overvaluation and questionable governance practices.
  • The flexible workspace industry shows significant long-term potential, and operators with strong foothold in the sector, such as The Executive Centre, will only grow stronger.

IntelGenx Enters Into a Third Amended and Restated Loan Agreement With atai Life Sciences

Retrieved on: 
Monday, March 11, 2024

Concurrently to entering into the Loan Agreement, the Company has issued 4,000,000 warrants (the “Warrants”) to atai.

Key Points: 
  • Concurrently to entering into the Loan Agreement, the Company has issued 4,000,000 warrants (the “Warrants”) to atai.
  • The Warrants entitle atai to purchase Shares at a price of US$0.17 per Share, for a period of 36 months following their issuance.
  • The shorter period was necessary in order to permit the Company to close the Loan Agreement in a timeframe consistent with usual market practice for transactions of this nature.
  • This press release does not constitute an offer of securities for sale in the United States.

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against iRhythm, Hut 8, and Amplitude and Encourages Investors to Contact the Firm

Retrieved on: 
Monday, March 11, 2024

The Company’s principal product is a monitoring patch that provides electrocardiogram (“ECG”) monitoring for up to 14 days, called Zio XT.

Key Points: 
  • The Company’s principal product is a monitoring patch that provides electrocardiogram (“ECG”) monitoring for up to 14 days, called Zio XT.
  • The Zio XT is intended for non-critical patients, as it does not provide real-time reporting.
  • These types of heart monitors that are approved for high-risk patients and provide near real-time alerts are also referred to as “real-time” monitors.
  • As a result of these misrepresentations, the price of iRhythm common stock traded at artificially inflated prices throughout the Class Period.

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Hut 8 Corp. (HUT)

Retrieved on: 
Friday, March 8, 2024

You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

Key Points: 
  • You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
  • In November 2023, Hut 8 formed following the merger of Hut 8 Mining Corp. (“Legacy Hut”) and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (“USBTC”) (the “Merger”).
  • To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
  • Glancy Prongay & Murray LLP, Los Angeles

Pomerantz Law Firm Announces the Filing of a Class Action Against Hut 8 Corp. and Certain Officers – HUT

Retrieved on: 
Thursday, March 7, 2024

NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Hut 8 Corp. (“Hut 8” or the “Company”) (NASDAQ: HUT).

Key Points: 
  • NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Hut 8 Corp. (“Hut 8” or the “Company”) (NASDAQ: HUT).
  • To discuss this action, contact Danielle Peyton at [email protected] or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext.
  • Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Hut 8

Retrieved on: 
Thursday, March 7, 2024

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia.

Key Points: 
  • Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia.
  • In November 2023, Hut 8 formed following the merger of Hut 8 Mining Corp. (“Legacy Hut”) and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (“USBTC”) (the “Merger”).
  • Faruqi & Faruqi, LLP also encourages anyone with information regarding Hut 8’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
  • The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ).

VALHI REPORTS FOURTH QUARTER 2023 RESULTS

Retrieved on: 
Thursday, March 7, 2024

Net income attributable to Valhi stockholders increased in the fourth quarter of 2023 as compared to the fourth quarter of 2022 primarily due to higher operating results from all of our segments.

Key Points: 
  • Net income attributable to Valhi stockholders increased in the fourth quarter of 2023 as compared to the fourth quarter of 2022 primarily due to higher operating results from all of our segments.
  • The Chemicals Segment’s TiO2 sales volumes were 29% higher in the fourth quarter of 2023 as compared to the fourth quarter of 2022 and 13% lower in the full year of 2023 as compared to the full year of 2022.
  • Average TiO2 selling prices were 11% lower in the fourth quarter of 2023 as compared to the fourth quarter of 2022 and 4% lower in the full year of 2023 as compared to the full year of 2022.
  • TiO2 production volumes were 15% higher in the fourth quarter of 2023 compared to the fourth quarter of 2022 but 19% lower in the full year of 2023 compared to the full year of 2022.